SAN FRANCISCO, April 4, 2017 /PRNewswire/ -- Fundbox, the leading cash flow optimization platform for small businesses (SMBs), and Zoho, the leading cloud-based business operating system, today announced a partnership in which Zoho will offer Fundbox to its user base in the U.S. Under the partnership, Zoho will provide access to Fundbox's technology to streamline and automate the business borrowing experience within the Zoho ecosystem.
Fundbox addresses one of the biggest pain points for small businesses and freelancers: cash flow. A recent Fundbox study revealed that 64 percent of small businesses are adversely affected by late payments. Over 80 percent of small business invoices are over 30 days due. This integration will allow Zoho customers approved for Fundbox Credit to advance funds tied up in their receivables so they can focus on business growth.
"Cash flow is the lifeblood for many small businesses. The ability to accurately track their finances and project working capital needs is a fundamental advantage when using Zoho Books and Zoho Invoice," said Raj Sabhlok, president of Zoho Corp. "Now, our customers can not only recognize cash flow gaps, but get the cash they need from Fundbox in a few clicks and keep their businesses running smoothly."
"We are thrilled to extend our reach to Zoho's customers in the U.S. and enable them to solve their cash flow gaps," said Prashant Fuloria, chief product officer, Fundbox. "Fundbox addresses an immediate need: paying small businesses for the work they've already done, and is dedicated to providing them with previously unimaginable financial options."
Launched in 1996, Zoho provides all the necessary applications to run a business entirely from the cloud and an easy-to-use, online accounting software designed for small businesses to manage their finances and stay on top of their cash flow.
Fundbox has developed a tech-powered tool that employs advanced underwriting algorithms and deep learning capabilities to advance funds tied up in outstanding invoices, helping business owners eliminate their cash flow challenges and grow their business.
For more information, please visit www.fundbox.com.
Fundbox is the leading platform for small and medium-sized businesses to manage and optimize cash flow. Through its advanced data science and analytics capabilities, Fundbox taps into numerous data signals to assess customers for risk automatically and right away. Approved small and medium-sized business owners are able to access capital with a single click - funds show up in their bank account as soon as the next business day. Leading Silicon Valley entrepreneurs, finance veterans, and venture capitalists, including Spark Capital Growth, Bezos Expeditions (the personal investment arm of Jeff Bezos), General Catalyst Partners, Khosla Ventures, SV Angel, former CitiGroup CEO Vikram Pandit, and other prominent investors back the company. Fundbox makes capital available to businesses through business loans and lines of credit made by First Electronic Bank, member FDIC, in addition to invoice-clearing advances, business loans and lines of credit made directly by Fundbox.
Zoho is THE operating system for business – a single cloud platform with all the necessary applications to run a business entirely from the cloud. Businesses can acquire and manage customers using Zoho's marketing, sales and customer support applications – Campaigns, CRM and Desk – and can then empower employees to create, store and distribute content on the cloud with Zoho's productivity and collaboration applications – Office, Mail and Docs. Additionally, businesses can run their own operations on Zoho's finance and human resources applications – Books, People and Recruit.
More than 25 million users around the world across hundreds of thousands of companies rely on Zoho every day to run their businesses – including Zoho itself. A business can choose to run the entire Zoho suite or just a single application. Zoho applications are available directly through zoho.com, or through an ecosystem of hundreds of worldwide Zoho partners.
Zoho is a division of Zoho Corp., a privately held and consistently profitable company with more than 4,000 employees. Zoho is headquartered in Pleasanton, California, with international headquarters in Chennai, India, and offices in Austin, Texas; London, U.K.; Yokohama, Japan; and Beijing, China. For more information, please visit https://www.zoho.com.
*Subject to Fundbox approval, terms and conditions.